In the first exhaustive treatment of the field in 20 years, Scott Shane extends the analysis of entrepreneurship by offering an overarching conceptual framework that explains the different parts of the entrepreneurial process - the opportunities, the people who pursue them, the skills and strategies used to organize and exploit opportunities, and the environmental conditions favorable to them - in a coherent way. Given the level of interest devoted to entrepreneurship in the economy and among academics at business schools, one would think that researchers would have deep insights into this phenomenon. However, those who look closely at academic investigations of entrepreneurship realize that scholarly understanding of this field is quite limited. Unlike its sister fields of accounting, marketing, finance, organizational behavior and strategic management, entrepreneurship is rather poorly explained by academics. Scott Shane resolves this by considering the nexus of enterprising individuals and valuable opportunities and by using that nexus to understand the processes of discovery and exploitation of opportunities, the acquisition of resources, entrepreneurial strategy and the organi
"'For me the General Theory of Entrepreneurship has been the most important compilation of knowledge in the 25 years that I have been teaching and researching in the field of entrepreneurship. As far as I can tell this may be the most important piece of literature in entrepreneurship since Schumpeter's 1911 contribution. I have been recommending it to colleagues, requiring it of PhD students, suggesting it to MBA students and even trying to encourage undergraduates to read it.' - Ed McMullan, University of Calgary, Canada; 'This ambitious book draws upon a wide variety of literature in developing a comprehensive theory of entrepreneurship, ranging from the discovery of entrepreneurial activities, to industry differences in entrepreneurial activity, to the organizing process. It represents a major contribution to the field.' - Arnold C. Cooper, Purdue University, US; 'Professor Scott Shane provides a deep and comprehensive discussion of the individual-opportunity nexus in entrepreneurship. Eschewing the usual approaches of either focusing exclusively on the individuals and their motivations and actions or focusing exclusively, almost always ex-post, on the economic potential of opportunities, Scott Shane fixes his gaze squarely on the nexus of the individual and the opportunity. It is this nexus that I believe is the building block for a better understanding of the entrepreneurial phenomenon.' - From the foreword by Saokaran Venkataraman"
Contents: Foreword by Sankaran Venkataraman 1. Introduction 2. The Role of Opportunities 3. The Discovery of Entrepreneurial Opportunities 4. Individual Differences and the Decision to Exploit 5. Psychological Factors and the Decision to Exploit 6. Industry Differences in Entrepreneurial Activity 7. The Environmental Context of Entrepreneurship 8. Resource Acquisition 9. Entrepreneurial Strategy 10. The Organizing Process 11. Conclusions References Index